Heard komodo is also a decentralized exchange?
Is this function ready developed or in progress?
What makes it different from other decentralized exchange blockchains?
Still didn't find a good one so far.
And how is it gonna tackle the fiat exchange problem
Komodo's decentralized exchange is developed, it goes under the name InstantDEX ( EasyDEX).
https://github.com/jl777/libjl777/tree/master/plugins/InstantDEXHowever, it still needs tested and GUIfied, however we have confirmed live atomic cross-blockchain swaps, so the core code works.
It is different from other decentralized exchanges in that there is no third party escrow/arbiter, whether its an actual person like in BitSquare or a Platform like in NXT . The exchange is done through atomic cross-blockchain swaps.
Here's how the the Pegged Asset Exchange tackles the fiat problem:
Ready-made blockchain solution for crypto-fiat transfers. Currently, many places have to go through several hoops to convert a national currency into crypto, whether its through a payment processor, like Visa or offering their own in-house solution. Even worse, when you get the crypto, the price could wildly swing up or down. PAXFiat allows for Komodo to be pegged to 32 different national currencies. Upon doing a paxdeposit with Komodo it gives you a corresponding amount of KMD(fiat). For example, say 1KMD = 1.00USD at the time you did a paxdeposit, you deposit your KMD and receive KMDUSD. Say the next day, KMD takes a huge hit and halves in price, now 1KMD =0.50USD. If you were to do a paxredeem, you would receive 2KMD back. It is a bit more complicated than this, but its the general idea of how pax works
And PAX is just the beginning, the technology opens the doorway for crypto-forex trading, crypto-commodity trading, options trading, even a mirror market of traditional platforms. Don't want to peg your currency to USD how about to Amazon instead, KMDAMAZON lol Currently only the 32 currencies are available but the principle can be applied to any type of investment vehicle. Who knows what the future will hold for PAX, but it definitely is an implementation to keep an eye on.